A CHARITY is warning small businesses in Crewe and Nantwich struggling with crippling debts to seek free advice instead of folding.

The Money Advice Trust, the charity that runs Business Debtline says, that many local sole traders and small businesses are leaving it too late before seeking financial assistance.

According to figures from the Office of National Statistics (ONS) there were a total of 3,965 so-called ‘business deaths’ in Cheshire last year.

Of that total 345 were in Crewe and Nantwich meaning 22% of start-up businesses are not surviving to see their second birthday.

South Cheshire Chamber of Commerce chief executive Paul Colman said: “I would agree that businesses should seek advice and support if they are struggling and they can contact the Chamber for that help and support.

“Unfortunately, starting a business is very difficult and it is in the second year that we see many businesses struggling and this has been consistent for many years.

“If we can stop small businesses closing this would be even more beneficial and the Chamber will continue to help and support as many businesses as possible, there is support out there and small businesses should have no hesitation using it.”

Money Advice Trust chief executive Joanna Elson said: “Small businesses are the lifeblood of the economy in Cheshire and across the UK as a whole. With more and more people becoming self-employed, the need for free, independent advice to help small business owners who fall into financial difficulty has never been greater.

“I would urge any small business owner in Cheshire who is struggling to cope with debt to seek free advice from Business Debtline as soon as possible. Our expert advisers – many of whom have experience of running small businesses themselves – are on hand to give local small businesses the help and support they need to get back on their feet and continue trading.”